Werner Enterprises, Inc. Named Executive Officer Compensation Approval (2008)

Contract Categories: Human Resources › Compensation Agreements
Summary

Werner Enterprises, Inc.'s Compensation Committee approved the 2009 base salaries and 2008 annual cash bonuses for its principal executive officers, including the Chairman, Vice Chairman, CEO, COO, and CFO. The bonuses were paid in December 2008 and were determined at the Committee's discretion. In addition to cash compensation, executives may receive benefits such as 401(k) matching, stock purchase plan participation, company vehicles, club memberships, and tax preparation services. Executives are also eligible for the company's health and welfare benefit programs.

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EX-10.4 2 wernexh1042008.txt WERNER ENTERPRISES, INC. 10-K 2008 EXHIBIT 10.4 EXHIBIT 10.4 WERNER ENTERPRISES, INC. NAMED EXECUTIVE OFFICER COMPENSATION On December 2, 2008, the Compensation Committee (the "Committee") of the Board of Directors of Werner Enterprises, Inc. (the "Company") approved the following base salaries and performance-based compensation awards, in the form of annual cash bonuses, for the Company's principal executive officer, principal financial officer and other named executive officers. The base salaries were effective as of January 2, 2009. The 2008 annual cash bonuses were awarded under the Company's discretionary annual cash bonus program and were paid on December 8, 2008. Such performance-based compensation awards are determined at the sole discretion of the Committee.
Name Base Salary Cash Bonus - --------------------------------------------------------------- ----------- ---------- Clarence L. Werner Chairman of the Board $715,000 $350,000 Gary L. Werner Vice Chairman $355,000 $230,000 Gregory L. Werner President and Chief Executive Officer $720,000 $350,000 Derek J. Leathers Senior Executive Vice President and Chief Operating Officer $369,000 $230,000 John J. Steele Executive Vice President, Treasurer and Chief Financial Officer $210,000 $100,000
In addition to the cash compensation described above, certain of the Company's named executive officers may also receive the following other compensation and perquisites: matching contributions to the Company's 401(k) retirement savings plan and employee stock purchase plan, personal use of a Company- provided vehicle, country club membership and income tax preparation services. The named executive officers are also eligible to participate in voluntary health and welfare benefit programs sponsored by the Company.